#Technology
Indosat sets IDR 13 trillion Capex for digitalization process
Leading digital communications provider PT Indosat Ooredoo Hutchison Tbk (ISAT) will allocate Capital expenditure (Capex) worth IDR 13 trillion (US$ 857 million) in 2023 for digitalization process and customer experience.
Teknologi Karya Digital to go public, expects to raise IDR 165 billion for business expansion
PT Teknologi Karya Digital Nusa Tbk (TRON) will go public later in February and release about 750 million shares worth IDR 165 billion (US$ 10.9 million), with 30% of the fund will be used for Capital expenditure (Capex) and the rest for working capital.
Indonesia, Australia join hands to promote inclusivity, economic growth in Indo-Pacific
Indonesia and Australia held a 2+2 meeting on February 8 and 9, 2023, in Canberra to delve into important foreign policy and defense/security matters both at the bilateral, regional and global levels.
China's plan to ban solar panel technology export may affect Indonesia's green energy goal
China has been considering to ban the export of several important technologies needed to make solar panels in order to maintain its global dominance and global market share in the sector. The Ministry of Commerce and the Ministry of Science and Technology have imposed the ban on Chinese manufacturers to use their large silicon, black silicon and cast-mono silicon technologies overseas.
Energy ministry prepares exploitation of rare earth minerals
The Ministry of Energy and Mineral Resources' Geological Agency is exploring the potential of rare earth minerals in Indonesia. The exploration is carried out to identify rare earth minerals in the laterite potential areas outside the mining sites, so the government can prepare the mining operation permits.
Pertamina Hulu Energi sets IDR 86.26 trillion Capex to acquire rights for Masela block
PT Pertamina Hulu Energi (PHE) has allocated IDR 86.26 trillion (US$ 5.7 billion) Capital expenditure (Capex) in 2023to acquire Shell's 35% participating interest (PI) in the Liquefied Natural Gas (LNG) Abadi Masela block.
Kalbe Farma allocates IDR 1 trillion to achieve 15% growth target
Privately owned pharmaceutical company PT Kalbe Farma Tbk (KLBF) has allocated IDR 1 trillion (US$ 65.9 million) Capital expenditure (Capex) to achieve revenue growth of 15% or IDR 33 trillion in 2023.
Telkom budgets IDR 40 trillion Capex in 2023
Indonesian multinational telecommunications conglomerate PT Telkom Indonesia Tbk (TLKM) has budgeted IDR 40 trillion (US$ 2.64 billion) Capital expenditure (Capex) for 2023, or 25% of the total estimated revenue, for developing mobile, broadband and data center.
Bank Central Asia allocates IDR 8.7 trillion Capex for new data center
The largest privately owned PT Bank Central Asia Tbk (BCA) allocates Capital expenditure (Capex) of IDR 8.7 trillion (US$ 583.7 million) in 2023 for a new data center infrastructure.
P2P lending faces growing concerns over non-performing loans
The Financial Services Authority (OJK) reported a significant increase in non-performing loans (NPLs) for over 90 days from fintech P2P lending platforms. As of October 2022, the NPLs had risen to IDR 1.42 trillion (US$ 95.3 million), a 140.78% increase from from the previous year of IDR 593.44 billion.
Danamon, MUFG to invest US$ 100 million in Garuda Fund
PT Bank Danamon Indonesia Tbk and MUFG Bank announced a placement of US$ 100 million in a Venture Fund focusing on Indonesia called the MUFG Innovation Garuda No. 1 Limited Investment Partnership, or Garuda Fund.
Top 10 must-have fintech apps and services in Indonesia
Financial technology (fintech) companies have rapidly grown in Indonesia, offering a multitude of innovative apps and services. Such services transform the way consumers manage their finances. The country's fintech industry has offered a wide range of options that provide fast, convenient and affordable financial solutions which range from e-wallets to P2P lending.